In the crypto market report prepared by the ICRYPEX Research team and covering the week of December 18 – 25, we have compiled the latest developments on crypto assets, price movements of crypto assets and macroeconomics.
You can take a look at the general flow of this report just below, and you can find all the developments that took place in the 7-day period in the Weekly Crypto Market Reports: December 18, 2023.
December 18th Weekly Crypto Market Report Overview
Crypto assets closed on a positive note last week, following the decline we saw in the previous week, and the total market capitalization of these assets rose back above the $ 1.6 trillion level. In this process, Bitcoin and Ethereum did not see new highs, but the market remained positive with the positive performance of the top 20 cryptocurrencies by market capitalization. In particular, on Friday, we saw Ethereum join the altcoins in a positive divergence from Bitcoin.
During this period, Bitcoin dominance fell back to 52%, while Ethereum dominance fell to 16.8%.
and retreated all the way back. In the altcoin rally, priority was given to L1 and L2 coins. Solana ended the week with a 60% rise, while Fantom 38.20%, Polkadot 41.4% and Avalanche 22%.
We can say that DeFi crypto assets cannot be included in the market movement with the ongoing DeFi regulation in the US and IOSCO’s recommendations, so we can say that they are negatively differentiated. Although they rallied on Friday and over the weekend, projects such as AAVE, MKR, CRV and COMP may have remained cheap relative to the market.
For more in-depth coverage of the week from December 18 – 25, check out the Weekly Crypto Market Reports: December 18, 2023.
